Decline in Job Market Slowing Down

According to the latest Report on Jobs, the rate of decline in the number of vacancies being placed with recruitment agencies and the number of people being hired through them slowed down again last month.

  • The key points from the Report, published by the Recruitment and Employment Confederation and KPMG, show that last month:
  • The slowest fall in permanent placements and temporary billings for seven months.
  • Permanent salaries and temp pay decreased at the slowest pace since January.

The number of job candidates went up strongly again.

Commenting on the Mike Stevens, KPMG’s Partner and Head of Business Services commented: 

“The modest improvement in all aspects of the employment market we started to see in March continued throughout April. However, it’s worth pointing out that ‘improvement’ only means ‘a reduction in the rate of deterioration’ – permanent placements and temporary billings continued to fall, just at a slower rate. The employment outlook is still worse than at any time in the 11 year history of the survey.” 
Recruitment agencies reported another drop in job vacancies during April. However, the latest reduction was the lowest for five months, with both permanent and temporary vacancies declining at weaker rates. 

The number of people looking for work was reported to have increased substantially again in April, driven by high levels of redundancies coupled with fewer new job opportunities available. 

Though both permanent staff placements and temporary/contract staff billings fell at the slowest pace in seven months in April, the rates of decline remained historically high. Average salaries for people placed in permanent jobs continued to fall sharply in April, albeit at the slowest rate in three months. 

Hourly rates of pay for staff in temporary/contract employment also declined at the least marked pace since January.

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